Platinum Contributing Member Skidooski Posted April 20, 2017 Platinum Contributing Member Share Posted April 20, 2017 GM says its Venezuela facility has been seized Venezuela government has not commented, but has seized plants before Thomson Reuters Posted: Apr 20, 2017 12:07 AM ET Last Updated: Apr 20, 2017 12:07 AM ET General Motors Corp. initials are seen inside of the company's compound in Valencia in a 2009 file photo. (Ariana Cubillos/The Associated Press) 28 shares Facebook Twitter Reddit Google Share Email Related Stories Venezuelan anti-government protests leaves 3 dead Can Venezuela protests break authoritarian rule of President Maduro? Thousands take to streets to protest Venezuelan President Nicolas Maduro Venezuela high court reinstates congress's authority, reversing ruling denounced as attempted coup U.S. sanctions new Venezuela VP using drug kingpin legislation Catch 22 in Caracas: Venezuela bans banknote, but there's no replacement 'I know it's not right, but I need to survive': Venezuela's black marketeers gouge residents on necessities 'We're living worse than in a war': Venezuela's deepening economic crisis General Motors said on Wednesday that Venezuelan authorities had illegally seized its plant in the industrial hub of Valencia and vowed to "take all legal actions" to defend its rights. The seizure comes amid a deepening economic crisis in leftist-led Venezuela that has already roiled many U.S. companies. "Yesterday, GMV's [General Motors Venezolana] plant was unexpectedly taken by the public authorities, preventing normal operations. In addition, other assets of the company, such as vehicles, have been illegally taken from its facilities," the company said in a statement. It said the seizure would cause irreparable damage to the company, its 2,678 workers, its 79 dealers and to its suppliers. Venezuela's Information Ministry did not immediately respond to a request for information. Thousands took part in protests Wednesday against president Nicolas Maduro, including in Caracas. (Carlos Becerra/AFP/Getty Images) Venezuela's car industry has been in freefall, hit by a lack of raw materials stemming from complex currency controls and stagnant local production, and many plants are barely producing at all. In early 2015, Ford Motor Co wrote off its investment in Venezuela when it took an $800 million US pre-tax writedown. The country's economic crisis has hurt many other U.S. companies, including food makers and pharmaceutical firms. A growing number are taking their Venezuelan operations out off their consolidated accounts. Venezuela's government has taken over factories in the past. In 2014 the government announced the "temporary" takeover of two plants belonging to U.S. cleaning products maker Clorox Co which had left the country. © Thomson Reuters, 2017 http://www.cbc.ca/news/business/general-motors-venezuela-statement-1.4076970 Quote Link to comment Share on other sites More sharing options...
Boered Posted April 20, 2017 Share Posted April 20, 2017 LOL, there is no need for GM to have a plant there. Fuck them. 1 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 20, 2017 Share Posted April 20, 2017 Kinda strange Venezuela gave $500,000.00 to the Trump Inauguration. Quote Link to comment Share on other sites More sharing options...
Boered Posted April 20, 2017 Share Posted April 20, 2017 1 minute ago, Mainecat said: Kinda strange Venezuela gave $500,000.00 to the Trump Inauguration. Care to explain how that is strange..... Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Skidooski Posted April 20, 2017 Author Platinum Contributing Member Share Posted April 20, 2017 2 minutes ago, Boered said: LOL, there is no need for GM to have a plant there. Fuck them. Yeah you're right....they don't need cars there anyways. The government came in and supposedly took the plant! If the government came in and took your shit we just say fuck you I guess Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Skidooski Posted April 20, 2017 Author Platinum Contributing Member Share Posted April 20, 2017 2 minutes ago, Mainecat said: Kinda strange Venezuela gave $500,000.00 to the Trump Inauguration. Here we go with your endless Trump bullshit 1 Quote Link to comment Share on other sites More sharing options...
Boered Posted April 20, 2017 Share Posted April 20, 2017 2 minutes ago, Skidooski said: Yeah you're right....they don't need cars there anyways. The government came in and supposedly took the plant! If the government came in and took your shit we just say fuck you I guess GM can make cars for that market in the United States. They choose instead to use cheap labour and lax laws to increase the bottom line. Fuck them and the bailout money they took. Quote Link to comment Share on other sites More sharing options...
Momorider Posted April 20, 2017 Share Posted April 20, 2017 5 minutes ago, Mainecat said: Kinda strange Venezuela gave $500,000.00 to the Trump Inauguration. FAKENEWSFRAUDMAINECUNT Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted April 20, 2017 Share Posted April 20, 2017 6 minutes ago, Mainecat said: Kinda strange Venezuela gave $500,000.00 to the Trump Inauguration. you've lost it man. Lets see the link. This should be good. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Skidooski Posted April 20, 2017 Author Platinum Contributing Member Share Posted April 20, 2017 3 minutes ago, Boered said: GM can make cars for that market in the United States. They choose instead to use cheap labour and lax laws to increase the bottom line. Fuck them and the bailout money they took. Ford has/had plants there too as well as other manus. Quote Link to comment Share on other sites More sharing options...
Boered Posted April 20, 2017 Share Posted April 20, 2017 1 minute ago, Skidooski said: Ford has/had plants there too as well as other manus. They will be next....should give them pause when thinking about where to build in third world countries......good. Quote Link to comment Share on other sites More sharing options...
Boered Posted April 20, 2017 Share Posted April 20, 2017 BTW, these plants have zero value without a supply chain and the branding. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 20, 2017 Share Posted April 20, 2017 1 hour ago, Boered said: Care to explain how that is strange..... If you dont know its wrong well seek help Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 20, 2017 Share Posted April 20, 2017 (edited) 1 hour ago, DriftBusta said: you've lost it man. Lets see the link. This should be good. Its true look it up yourself....of course it wouldnt be in the news you tune to. Edited April 20, 2017 by Mainecat Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted April 20, 2017 Platinum Contributing Member Share Posted April 20, 2017 5 minutes ago, DriftBusta said: you've lost it man. Lets see the link. This should be good. It came from Citgo Petroleum. MC is batshit crazy if he thinks Venezuela had any knowledge of the donation. Citgo Petroleum Corporation (or Citgo) is an American refiner, transporter and marketer of transportation fuels, lubricants, petrochemicals and other industrial products. The company is owned by PDV America, Inc., an indirect wholly owned subsidiary of Petróleos de Venezuela, S.A. (PDVSA), the national oil company of Venezuela. The company has its headquarters in the Energy Corridor area of Houston, Texas. Headquarters[edit] Citgo headquarters in the Energy Corridor area of Houston Citgo has its headquarters in the Energy Corridor area of Houston, Texas, United States.[25] Before it was headquartered in Houston, Citgo had its headquarters in Tulsa, Oklahoma. In 2003 Governor of Oklahoma Brad Henry met an executive of Citgo to discuss possible incentives that would keep the Citgo headquarters in Oklahoma.[26] For eight months the company debated whether to move its headquarters or to keep its headquarters in Oklahoma. In 2004 the company announced that its headquarters were moving to Houston.[27] At that point the company had not decided which location in Houston would have the headquarters. The company wanted 300,000 square feet (28,000 m2) of office space to house 700 employees. Citgo considered the 1500 Louisiana building in Downtown Houston, the Williams Tower in Uptown Houston, the BMC Software headquarters complex in Westchase, and the Aspentech Building in the Energy Corridor.[28] In June of that year the company signed a lease in the five-storey Aspentech building so it could serve as a headquarters.[29][30][31] In September 2004 the company began moving its headquarters; on September 24 of that month 150 employees were in the Energy Corridor offices Quote Link to comment Share on other sites More sharing options...
Boered Posted April 20, 2017 Share Posted April 20, 2017 3 minutes ago, Mainecat said: If you dont know its wrong well seek help We can debate how wrong it is, b ut do a little research on Obama and who donated to his. Then we can look at it from the other side and see that it is in fact not strange at all, but the norm. Now, is it against the law, no, so what is the issue you have, is it with the law, if so, I can agree, if it is with Trump alone, then I say you are a fool. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted April 20, 2017 Platinum Contributing Member Share Posted April 20, 2017 Just now, Boered said: We can debate how wrong it is, b ut do a little research on Obama and who donated to his. Then we can look at it from the other side and see that it is in fact not strange at all, but the norm. Now, is it against the law, no, so what is the issue you have, is it with the law, if so, I can agree, if it is with Trump alone, then I say you are a fool. Better them than the taxpayers. Quote Link to comment Share on other sites More sharing options...
JEFF Posted April 20, 2017 Share Posted April 20, 2017 Citgo Petroleum, a US-based subsidiary of the Venezuelan state-owned oil company, is named in papers filed with the Federal Election Commission. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 20, 2017 Share Posted April 20, 2017 1 hour ago, Highmark said: It came from Citgo Petroleum. MC is batshit crazy if he thinks Venezuela had any knowledge of the donation. Citgo Petroleum Corporation (or Citgo) is an American refiner, transporter and marketer of transportation fuels, lubricants, petrochemicals and other industrial products. The company is owned by PDV America, Inc., an indirect wholly owned subsidiary of Petróleos de Venezuela, S.A. (PDVSA), the national oil company of Venezuela. The company has its headquarters in the Energy Corridor area of Houston, Texas. Headquarters[edit] Citgo headquarters in the Energy Corridor area of Houston Citgo has its headquarters in the Energy Corridor area of Houston, Texas, United States.[25] Before it was headquartered in Houston, Citgo had its headquarters in Tulsa, Oklahoma. In 2003 Governor of Oklahoma Brad Henry met an executive of Citgo to discuss possible incentives that would keep the Citgo headquarters in Oklahoma.[26] For eight months the company debated whether to move its headquarters or to keep its headquarters in Oklahoma. In 2004 the company announced that its headquarters were moving to Houston.[27] At that point the company had not decided which location in Houston would have the headquarters. The company wanted 300,000 square feet (28,000 m2) of office space to house 700 employees. Citgo considered the 1500 Louisiana building in Downtown Houston, the Williams Tower in Uptown Houston, the BMC Software headquarters complex in Westchase, and the Aspentech Building in the Energy Corridor.[28] In June of that year the company signed a lease in the five-storey Aspentech building so it could serve as a headquarters.[29][30][31] In September 2004 the company began moving its headquarters; on September 24 of that month 150 employees were in the Energy Corridor offices ITS A STATE OWNED OIL COMPANY!!!!!!!!!!!!!!!!!!!! Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 20, 2017 Share Posted April 20, 2017 1 hour ago, JEFF said: Citgo Petroleum, a US-based subsidiary of the Venezuelan state-owned oil company, is named in papers filed with the Federal Election Commission. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 20, 2017 Share Posted April 20, 2017 1 hour ago, Boered said: We can debate how wrong it is, b ut do a little research on Obama and who donated to his. Then we can look at it from the other side and see that it is in fact not strange at all, but the norm. Now, is it against the law, no, so what is the issue you have, is it with the law, if so, I can agree, if it is with Trump alone, then I say you are a fool. So its OK for a head of a socialist country that seizes foreign owned factories and business to donate money to a US president? Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted April 20, 2017 Platinum Contributing Member Share Posted April 20, 2017 Just now, Mainecat said: ITS A STATE OWNED OIL COMPANY!!!!!!!!!!!!!!!!!!!! Dude, look up "indirect wholly owned subsidiary." They are owned by a company owned by Venezuala's national oil company. Doesn't mean they don't make many of their own decisions. Bet not a person here hasn't filled up at a Citgo. I thought you were for state run energy? Now they are the bad guys? Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted April 20, 2017 Platinum Contributing Member Share Posted April 20, 2017 (edited) 4 minutes ago, Mainecat said: So its OK for a head of a socialist country that seizes foreign owned factories and business to donate money to a US president? Yes, as long as it bothers you and shortens your life in some way or another. If they gave money to Clinton you would be praising it. Because its Trump you are now all of a sudden against State run energy. Edited April 20, 2017 by Highmark Quote Link to comment Share on other sites More sharing options...
Boered Posted April 20, 2017 Share Posted April 20, 2017 4 minutes ago, Mainecat said: So its OK for a head of a socialist country that seizes foreign owned factories and business to donate money to a US president? Can you read.....try again old fella, slowly this time. Quote Link to comment Share on other sites More sharing options...
Sleepr2 Posted April 20, 2017 Share Posted April 20, 2017 15 minutes ago, Mainecat said: So its OK for a head of a socialist country that seizes foreign owned factories and business to donate money to a US president? You had no problem with the Clintons taking money from the evil commies you pathetic hack. Quote Link to comment Share on other sites More sharing options...
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